The falling pound has produced a sharp rise in business activity for Northern Ireland companies enjoying a surge in orders from the Republic, an Ulster Bank report suggested.

Meanwhile, analysts think traders are awaiting signs of better relations in Brexit talks before upgrading the pound against the euro, as they think there will be more pressure for the pound in the short term.

Experts had predicted the pound and euro would hit parity by next year, with US bank Morgan Stanley revealing it would be the first time the currencies would be at equal value in the single currency's 18-year history.

Nikolay Storonsky, former trader at Credit Suisse and founder of digital challenger bank Revolut said: "In my opinion, the pound is significantly undervalued at the moment.

"The obvious factor here is future uncertainty around what a post-Brexit Britain will look like.

"The negotiations do not appear to be delivering much clarity and this will contribute towards any future currency fluctuation.

"We'll be keeping a sharp eye on the government and their future decision-making as this will help to more accurately predict which direction the Pound is heading in.

But he said the feeling around the pound was positive, he said: "I believe sterling will begin to bounce back within the next 12 months."

It's almost always much cheaper to buy your currency before you get to the airport.

The rates you'll see above are the "spot" currency rate that is traded on the market.

These are different to the rates offered by currency exchange businesses, but changes in the spot rate do have an effect on how much cash you get.

How to get the best holiday money rate

WE spoke with Hannah Maundrell, editor-in-chief at money.co.uk to find out how you can guarantee the best rate when you go on holiday

Don’t buy cash at the airport – you’ll always be able to beat the rate with a bit of forward planning

Compare travel money companies online – Factor in delivery costs and choose the option that gives you the most cash to spend on holiday. If you’ve left it until the last minute order online for airport collection so you get the best of both worlds.